What opportunities does the metaverse have for Mexicans?

by | Oct 12, 2022

The metaverse has been in the market for a year now and has shown that it is not only a space for leisure and games, so in this post we are going to analyze if the Metaverse has become attractive for Mexicans and what are the possible opportunities.

For now, we can say that in Mexico, users have found a new world of virtual possibilities, and today we want to show you the uses it has in various aspects of reality, especially we want to tell you how other companies are benefiting from this technology.


What is the Metaverse?

The Metaverse is a virtual world, with which we can interact through an avatar, which will be like our alter ego in this world. In order to be able to connect, you will regularly need special devices, such as virtual reality glasses or gloves, which allow you to interact through all senses.

The creation of virtual worlds is nothing new, for at least a couple of decades there have been several games like the Sims or Second Life that aim to immerse players in a virtual world to interact with each other. However, the big difference is that Metaverse does not create a fantasy world, but rather hopes to create an alternative reality in which we will do the same things we do in our day-to-day life but without leaving home.

As for the idea that Facebook, and other companies such as Microsoft, intend to develop, is to create a completely virtual parallel universe, so that we can interact from inside or even from outside with the information we have inside. For this, they are looking for the creation of a virtual currency and a space that is “alive” 24/7.

The attractive thing is that this new reality can be more immersive than what we know today as virtual reality or what we know as augmented reality, thanks to sensors that allow us to move our avatar at the same time as us.

At first the metaverse can be seen as an excellent technology for gaming applications, however its developers plan to extend its use to all possible areas and in Mexico it seems that we understood it very well because its use in areas such as education, advertising and business is quite promising.


The metaverse and startups

Almost a year after Mark Zuckerberg announced the creation of the Metaverse it seems that very few entrepreneurs seem to fully understand this technology and how they can do business with the metaverse, as pointed out by the survey of the ISDI business school applied to Mexican leaders, which concludes that only 13% of respondents understand it.

According to data from this survey, 7 out of 10 respondents said they know very little about the metaverse and only 13% know how it works and how they can apply it to their business, despite the fact that many of those interviewed have a background in technology or digital business.

In the same survey, it is established that 40% of respondents say that in their company the Metaverse has not been addressed as a priority issue, although many consider that it may be in the future. In contrast, 22% say that their companies have addressed the issue and are beginning to take action for this innovation in new business fields or in advertising.

Does this mean that the metaverse is not attractive for Mexican entrepreneurs? The answer may be more complex than it seems and although it seems that there is very little interference of the metaverse among Mexican companies, the truth is that everything indicates that in the future this situation will take a 180-degree turn.

At least that is how Alberto Pardo, CEO of Adsmovile, sees it, for whom the first companies that may be interested in the metaverse are the startups, since they are the ones that are more open-minded to take new risks, in fact, there are already many that are looking for advertising in the metaverse.

For Pardo, the Metaverse means more promises than realities, but there are many companies that are determined to venture into it and are even testing the possibilities it offers for them. So, we can assure that in the next two years the interest in this technology will grow exponentially.

In Mexico there are several associations that seek to educate entrepreneurs to benefit from this technology, one of these is the Mexican Association of Women Heads of Business (AMMJE) seeks to bring Mexican businesswomen to the Metaverse, this initiative is innovative not only in Mexico but throughout Latin America, for this organizes the “Summit 2022 Metaverse, Unlimited Universe” which aims to explain to attendees the importance of new technologies and how to capitalize their businesses in this new reality.


Digital fashion and the metaverse

Recently one of the most important applications of the metaverse is in the fashion industry and for Mexican designers this meant a new opportunity. For new talents in the fashion industry to find a place in the market, especially to gain exposure, can be almost impossible.

This is where the metaverse comes into play, as it has become the quintessential habitat for digital fashion. Younger Mexican designers and entrepreneurs have opted for virtual reality to lessen the shock and problems of raising a Mexican fashion brand. Proof of how well digital fashion is adapting to Mexican designers is the Metaverso Fashion Week that took place in February 2022.


Metaverso in the education sector

The Covid-19 pandemic and confinement highlighted that educational technology still has a long way to go. Distance learning was not the most significant outcome, especially for the very young. Undoubtedly, the problem with distance education is the lack of humanization in this way of learning.

Today there are several schools and projects that have found in the metaverse the solution to distance education. Universities such as Tecnológico de Monterrey are looking to create a completely virtual campus, where students can interact at a distance in a more assertive way than with traditional methods.


 Investment opportunities in the metaverse

On the other hand, the metaverse has become a trend for Mexican technology companies and they are beginning to invest in it. According to Expansión, in the last months more than 13 thousand Mexican investors bought a part of companies such as Microsoft, Nvidia, Unity and Disney, through fractions or small fractions of shares.

The truth is that this technology seems to be especially appealing to younger Mexican investors between the ages of 18 and 24. Although it is presented as a world of opportunities for investors, specialists such as Adam Singola, CEO of Taboola, assure that not everything will be successful, in fact he assures that the augmented reality metaverse will win over the virtual reality metaverse.


Employment in the metaverse

Projections about the metaverse seem to have excited Mexicans, especially because of the potential job opportunities that may open up. In fact, according to the Indeed job platform, searches for jobs related to the metaverse increased by 132%.

In fact, from June 2021 to this year the promotion of jobs in the field of virtual reality in the country increased by 12.7%, a much higher percentage than traditional jobs.

Even without the metaverse, today there are more and more computers connected to the cloud, which means an increase in demand for jobs related to information technology such as big data and artificial intelligence.


Although for now the Metaverse seems to pose more possibilities than realities, the truth is that its progress and adoption is undeniable and unstoppable, so we can not deny that the metaverse has become attractive for Mexicans, perhaps in some niches more than others, surely as technology advances its adoption will be necessary. Tell us, have you ventured into this virtual world, what has been your experience?


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